Re: Mortgage for new LPR with limited credit history
Originally Posted by Pulaski
(Post 12290542)
Do you know what a "credit application" is? ..... It isn't a frickin' credit report! :frown:
your application will include checking your citizenship/ nationality, and visa status, if applicable. The checks are performed by you supplying evidence to prove your status. It matters not one jot what is listed at the social security office! That is a complete lie which PF should stop propagating. |
Re: Mortgage for new LPR with limited credit history
Originally Posted by hungryhorace
(Post 12290546)
.... Right! And this is the point.
The checks are performed by you supplying evidence to prove your status. It matters not one jot what is listed at the social security office! .... |
Re: Mortgage for new LPR with limited credit history
The loan application(URLA) https://www.fanniemae.com/content/gu...rm/1003rev.pdf asks multiple questions one being LPR status. So of course it is on the loan application because 99% of mortages are either Freddie or Fannie mortgages. It has nothing to do with checks. If you lie on your application about anything, including pending law suits it may be a problem. Does that include class action law suits?
Also you need to inform DMV if you change to LPR status. |
Re: Mortgage for new LPR with limited credit history
I know this is going to sound strange but with our mortgage I chose not to be an applicant as this would be detrimental. You would think that 2 incomes would be better than one.
I would try to get a mortgage with just your wife as a sole applicant and when you have a longer track record of having a longer payment history then refinance the loan to your joint names. the trouble is also with her limited and your limited credit history is the lenders have less history to analyse. your best option to actually get a mortgage is to go down the manual underwriting route. you may pay a higher interest rate but again you could refinance out after a few years. This is a risk as the interest rates can change to your disadvantage. |
Re: Mortgage for new LPR with limited credit history
Originally Posted by Dominic0012
(Post 12292106)
I know this is going to sound strange but with our mortgage I chose not to be an applicant as this would be detrimental. You would think that 2 incomes would be better than one.
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